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Nuveen plans Santa Barbara Global, International Dividend funds
By Toni Weeks
San Diego, March 27 - Nuveen Investment Trust II announced in an N-1A filing with the Securities and Exchange Commission its plans to launch two new funds, the Nuveen Santa Barbara Global Dividend Growth Fund and the Nuveen Santa Barbara International Dividend Growth Fund. Both will launch with four share classes: class A, class C, class R3 and class I. Ticker symbols have not yet been determined.
Both funds will seek an attractive total return comprised of income from dividends and long-term capital appreciation.
Under normal market conditions, the Santa Barbara Global fund will invest at least 80% of its net assets in dividend-paying equity securities. It will invest between 40% and 75% of its net assets in non-U.S. securities. Though it will emphasize developed markets, the fund may invest up to 10% of its net assets in companies located in emerging market countries.
Under normal market conditions, the Santa Barbara International fund will invest at least 80% of its net assets in dividend-paying equity securities, with at least 80% of its net assets in non-U.S. securities. It will also concentrate its investments in developed markets but may invest up to 10% of its net assets in companies located in emerging market countries.
James R. Boothe will be the portfolio manager for both funds.
Shareholder fees for either fund will consist of a 5.75% maximum sales charge for class A shares and a 1% maximum deferred sales charge for class C shares. There is also an annual low balance account fee of 15% for certain class A, class C and class I accounts with balances under $1,000.
Management fees and total annual fund operating expenses have not yet been set.
Chicago-based Nuveen Fund Advisors, Inc. will be the investment adviser. Santa Barbara Asset Management, LLC will be the subadviser.
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